SPHQ vs. BTC-USD
SPHQ (Invesco S&P 500 Quality ETF) is S&P 500 fund tracking the S&P 500 Quality Index, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 10 years, SPHQ returned 15.27%/yr vs 57.23%/yr for BTC-USD. At a 0.12 correlation, their price movements are largely independent.
Performance
SPHQ vs. BTC-USD - Performance Comparison
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Returns By Period
In the year-to-date period, SPHQ achieves a 16.79% return, which is significantly higher than BTC-USD's -26.27% return. Over the past 10 years, SPHQ has underperformed BTC-USD with an annualized return of 15.27%, while BTC-USD has yielded a comparatively higher 57.23% annualized return.
SPHQ
- 1D
- 1.02%
- 1M
- 4.96%
- YTD
- 16.79%
- 6M
- 15.77%
- 1Y
- 26.53%
- 3Y*
- 22.40%
- 5Y*
- 14.55%
- 10Y*
- 15.27%
BTC-USD
- 1D
- 1.71%
- 1M
- -20.43%
- YTD
- -26.27%
- 6M
- -28.52%
- 1Y
- -39.20%
- 3Y*
- 36.94%
- 5Y*
- 9.74%
- 10Y*
- 57.23%
SPHQ vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPHQ Invesco S&P 500 Quality ETF | 16.79% | 13.25% | 25.44% | 24.83% | -15.76% | 28.03% | 17.36% | 33.64% | -7.10% | 19.10% |
BTC-USD Bitcoin | -26.27% | -6.27% | 120.76% | 155.82% | -64.23% | 59.40% | 304.57% | 94.10% | -73.37% | 1,324.24% |
Correlation
The correlation between SPHQ and BTC-USD is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.27 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Sep 28, 2012 | 0.12 |
The correlation between SPHQ and BTC-USD shifts across timeframes, from 0.12 (all time) to 0.30 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SPHQ vs. BTC-USD — Risk / Return Rank
SPHQ
BTC-USD
SPHQ vs. BTC-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Quality ETF (SPHQ) and Bitcoin (BTC-USD). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| SPHQ | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.77 | ||
| Sortino ratioReturn per unit of downside risk | +3.94 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 0.87 | +0.45 |
| Calmar ratioReturn relative to maximum drawdown | 2.75 | -0.77 | +3.51 |
| Martin ratioReturn relative to average drawdown | 11.76 | -1.33 | +13.10 |
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Drawdowns
SPHQ vs. BTC-USD - Drawdown Comparison
The maximum SPHQ drawdown since its inception was -57.83%, smaller than the maximum BTC-USD drawdown of -85.30%. Use the drawdown chart below to compare losses from any high point for SPHQ and BTC-USD.
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Drawdown Indicators
| SPHQ | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.83% | -85.30% | +27.47% |
Max Drawdown (1Y)Largest decline over 1 year | -8.90% | -51.21% | +42.31% |
Max Drawdown (3Y)Largest decline over 3 years | -16.57% | -51.21% | +34.64% |
Max Drawdown (5Y)Largest decline over 5 years | -25.04% | -76.67% | +51.63% |
Max Drawdown (10Y)Largest decline over 10 years | -31.60% | -83.80% | +52.20% |
Current DrawdownCurrent decline from peak | 0.00% | -48.27% | +48.27% |
Average DrawdownAverage peak-to-trough decline | -10.69% | -42.36% | +31.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.09% | 35.16% | -33.07% |
Volatility
SPHQ vs. BTC-USD - Volatility Comparison
The current volatility for Invesco S&P 500 Quality ETF (SPHQ) is 4.92%, while Bitcoin (BTC-USD) has a volatility of 11.97%. This indicates that SPHQ experiences smaller price fluctuations and is considered to be less risky than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPHQ | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.92% | 11.97% | -7.05% |
Volatility (6M)Calculated over the trailing 6-month period | 10.83% | 34.64% | -23.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.18% | 35.59% | -22.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.53% | 44.57% | -28.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.90% | 56.61% | -38.71% |
Frequently Asked Questions
SPHQ and BTC-USD have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BTC-USD has higher volatility (11.97%) compared to SPHQ (4.92%). In terms of maximum drawdown, SPHQ dropped -57.83% vs BTC-USD's -85.30%.
SPHQ currently has the higher Sharpe Ratio (1.85 vs -0.92), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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